Digital assets data platform Power Your Own Research, or PYOR, has raised $4 million in a seed funding round led by Castle Island Ventures and others.

The data and insights platform startup, founded in 2022 by former CoinSwitch employees, plans to use the fresh capital to expand its team, core infrastructure, and product platform, as well as enhance its interpretation layer for digital assets.

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Krishna Hegde, Co-Founder of PYOR, in an interview to CNBC-TV18, said, "Digital assets is a very nascent asset class. Institutional investors have been investing in digital assets only for the last couple of years. Whereas if you look at other asset classes like credit or commodities etc, you had institutional investors invest in them for multiple decades. At this point of time the number of global institutions which already invest in digital assets is probably a couple of hundred. If you fast forward 5-10 years, every global institution will have an allocation into digital assets. When that happens, we want them to come to PYOR as their go to data source for analysing and making decisions on what to buy, sell and hold."

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First Published:May 22, 2023 9:46 PM IST